TECHNOLOGY PAVES WAY FOR GEN Y INVESTORS

Written on the 28 July 2015

TECHNOLOGY PAVES WAY FOR GEN Y INVESTORS

MORE generation Y investors are choosing to invest in the sharemarket compared to 20 years ago, according to CommSec.

The stockbroking firm analysed share trading and economic trends over the last two decades, as part of its 20 year anniversary.

Data shows investors are entering the sharemarket at an earlier age with 28 per cent of 25 to 34 year olds now owning shares, with the number continuing to rise.

CommSec managing director Paul Rayson says online broking has made it cheaper and easier for younger people to buy shares.

"Twenty years ago the majority of investors in the market were aged in their late 40s to 50s," Rayson says.

"Our review shows that in 1995 only around 1 in 5 new investors using our platform were aged under 35. Now just over half of our new customer base is aged under 35.

"It demonstrates how younger people have embraced technology and become more self-directed in their approach to financial decision-making."

The technological shift is also reflected in growing usage of mobile devices for investing, with 60 per cent of investors using their phone to monitor their portfolio.

About 25 per cent of CommSec logins and 13 per cent of daily trades are now completed on mobile devices.

Investors still remain relatively cautious by not favouring a particular sector, and only 5 per cent of the population own international shares.

About a third of Australians over the age of 18 own shares at 33 per cent, in comparison to 16 per cent of Australians in 1994. Share ownership by women has also increased to 27 per cent, with men at 38 per cent.

 


Latest News

PROFIT BOOST FORECAST AT VILLA WORLD

VILLA World has forecast profit growth of 5 per cent in the first half of FY17 in an earnings guidance released to th...

WP CURVE SOLD TO GODADDY

NASDAQ-listed tech company GoDaddy has bought Gold Coast's WP Curve for an undisclosed sum.

The subscription-b...

BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

ONLINE actionwear retailer SurfStitch Group (ASX: SRF) has announced a major board shake-up in a move that effectivel...

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter